“This book is a comprehensive and insightful overview of
international real estate focusing on three of the BRICs: China,
India and Brazil. I was pleasantly surprised to find useful market
data and industry profiles for each of the countries that were very
consistent with my first hand experience. The book has a wealth of
information for the real estate investment analyst and practitioner
and will be very useful to those seeking guidance on what to expect
in emerging markets.”—Joseph F. Azrack, Managing Partner, Real Estate, Apollo
Global Management

“David Lynn has set the bar with respect to real estate
investment in the most compelling emerging markets. Lynn provides a
framework for thinking about highly dynamic markets characterized
by youthful populations, extraordinary demand, capital inefficiency
and, most importantly, aspiration. This book will enlighten
institutional investors and entrepreneurs alike. I look
forward to another work by David Lynn addressing the frontier
markets.”—Gary R. Garrabrant, CEO & Co-Founder, Equity
International

An informed look at investing in emerging market real
estate

Focusing primarily on private equity real estate investment in
China, India, and Brazil this reliable resource develops a general
approach to commercial real estate investment in emerging markets,
and illustrates some common strategies and analytical methods that
can be implemented within this arena.

Filled with in-depth insights and expert advice, Emerging
Market Real Estate Investment focuses on broad investment
themes and strategies as well as economic and legal/institutional
factors, rather than the minute details of local market analyses.
Opening with two informative chapters that provide an overview of
the fundamentals of commercial and international real estate
investment, this practical guide then moves on to the
country-specific chapters of China, India, and Brazil.

Outlines various real estate investment options and strategies
for emerging markets such as China, India, and Brazil

Discusses the main features of each real estate market,
including real estate foreign direct investment (FDI)

Written with both institutional and private investors in mind,
Emerging Market Real Estate Investment will put you in a
better position to excel in emerging real estate markets.

Praise for Emerging Market Real Estate
Investment:

“Emerging Market Real Estate Investment is written
with a top down strategic orientation. It presents an excellent
overview for US institutional investors planning to invest in
offshore real estate in general and emerging markets and China,
India and Brazil specifically. It covers all the key points my firm
had to address before investing in China. I wish it had been
available then.”—Robert H. Zerbst, Former Chairman & CEO, CB Richard
Ellis Investors

“This book does for international real estate what
Samuelson’s primary Economics text did for economics
students—it finally provides a new discipline with its first
Bible. As cross-border real estate capital flows are on the rise,
and investors increasingly seek compelling risk-adjusted returns in
emerging markets, this book couldn’t have come at a better
time in the market cycle. It is rich in content and filled with
practical insights”—Kenneth A. Munkacy, Senior Managing Director, GID
International Group/GID Investment Advisers, LLC

“With American real estate in the doldrums, more investors
will be looking abroad. David and Tim's analysis of international
real estate investment, focused on three of the world’s most
dynamic economies, provides exceptionally detailed knowledge
concerning what real estate markets are really like in China,
India, and Brazil. It is essential reading for investors
considering those markets.”—Anthony Downs, Senior Fellow, the Brookings
Institution

“David Lynn and Tim Wang have written the 'must read' book
for all real estate investors in emerging Brazil, China and India.
They comprehensively cover the landscape of issues—economic,
policy, legal, markets, sectors, entry, exit and strategies. Of
noted value is their sanguine assessment of the risks and
opportunities of alternative strategies in each country. The first
outlay for all should be their book.”—Dr. Raymond G Torto, CRE, Global Chief Economist, CB
Richard Ellis

"Emerging Market Real Estate Investment is a powerful
tool for those engaged in foreign investment generally, as well as
in China, India and Brazil in particular. It combines a broad
general view of competitive strategy with local detail on costs and
legal aspects. The book is an intelligent and practical guide to
foreign real estate investment."—Bowen H. McCoy, CRE, Formerly Partner and Managing
Director, Morgan Stanley

DAVID J. LYNN, PhD, is an institutional real estate
investor, strategist, and portfolio manager with extensive
experience in national and international markets. Currently, he is
Managing Director, Head of the Research and Investment Strategy
Group, and Generalist Portfolio Manager at ING Clarion Partners. In
this capacity, he directs the firm’s strategic and tactical
investment decisions regarding investment portfolios. He is also a
member of the Investment and Operating Committees, where he makes
decisions on billions of dollars of new investments, portfolios,
fund strategies, and dispositions. Lynn’s theoretical work
has yielded new approaches and analytical techniques in the areas
of active portfolio management, market forecasting, financial
distress, and emerging markets. He has published widely on the
subjects of real estate investment, development, economics, and
land use. Lynn has written or coauthored over seventy articles,
internal investment and strategy papers, and three major books,
including Active Private Equity Real Estate Strategy. He
writes a highly regarded column called “Capital Trends”
in National Real Estate Investor magazine and is frequently
cited in the media for his views on the economy and the real estate
industry. Lynn earned his PhD in financial economics from the
London School of Economics, where he also earned a master of
science specializing in finance. He holds an MBA from MIT’s
Sloan School of Management.

TIM WANG, PhD, is Senior Vice-President and Senior
Investment Strategist with the Research and Investment Strategy
Group at ING Clarion Partners. Dr. Wang joined ING Clarion Partners
in 2006 and has authored more than fifty internal and external real
estate investment strategy and market research articles and book
chapters. He is a frequent speaker at industrial conferences. Tim
holds an MBA from New York University and a PhD from the University
of Georgia.

Digital version available through Wiley Online Library

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